Exploration & Production | Drilling / Well Results
Hawk Edges Up Oil Reserves; Deems Latest Redwater Well Uneconomic
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Hawk Exploration Ltd. has reported an operations update and a summary of its December 31, 2013 reserve information as evaluated by GLJ Petroleum Consultants Ltd.
Highlights: Increased total proved plus probable oil reserves by 5% from 1,725 thousand barrels of oil equivalent to 1,814 MBoe while total proved reserves increased slightly from 1,137 MBoe in 2012 to 1,145 MBoe in 2013; Added total proved reserves in 2013 at a finding and development cost of $34.73 per Boe, including future development costs, and added total proved plus probable reserves at a finding and development cost of $24.78 per Boe, including future development costs; Achieved a recycle ratio on a proved basis of 1.0 times and on a proved plus probable recycle ratio of 1.3 times based on estimated 2013 operating netback…- ✓ Full news archive — U.S., Canada & international coverage
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